IN relation to the recent adjustment in premium contribution rate for the employed sector, the Philippine Health Insurance Corporation (PhilHealth) provided employers with sample computations of the premium rate for proper guidance.
Through PhilHealth Advisory 2018-0003, PhilHealth presented sample computations applying the adjusted rate of 2.75 percent to the monthly basic salary of an employee. With the salary floor and ceiling moved to P10,000.00 and P40,000.00, respectively, workers earning P10,000.00 and below will pay a monthly premium of P137.50 and their employers will provide a counterpart amount of P137.50 per month.
Employees whose monthly incomes range from P10,000.01 to P39,999.99 will have to contribute from P137.50 up to P549.99 per month, while their employers will provide equal amounts as counterpart contributions.
On the other hand, those earning P40,000.00 and above will be contributing a fixed premium of P550.00 each month, while a counterpart amount of P550.00 will be provided by their employers.
For kasambahays who earn less than P5,000.00 a month, their PhilHealth contribution will solely be paid for by their employer. However, kasambahays receiving P5,000.00 or more per month shall pay their proportionate monthly share.
In order to come up with a two-digit centavo computation of the premium contribution, the computed amount shall be rounded off to the nearest hundredths. For instance, an employee whose monthly basic salary is P11,250.00, will merit a P309.375 premium. Following the round off, the monthly contribution is P309.38, an amount that will be divided equally with the employer.
At the same time, the premium contribution of an employee whose monthly basic salary is P25,410.00 is P698.775, an amount that will be rounded off to the nearest hundredths, or P698.78. Thus, the employee will be paying P349.39, while the employer will also pay P349.39.
Further, if an excess centavo will occur when equally sharing the computed monthly premium, the excess is deducted from the employee’s share. For example, the monthly premium contribution of an employee whose monthly basic salary is P22,500.00 is equivalent to P618.75 which, when divided equally, will result to P309.37 to be deducted from the employee, and P309.38 to be deducted from the employer.
Further inquiries on this new development may be referred to PhilHealth’s 24/7 Corporate Action Center Hotline, (02) 441-7442. E-mails may also be sent to firstname.lastname@example.org for clarifications, comments, and suggestions. For more updates, members and stakeholders are encouraged to follow PhilHealth on Twitter (@teamphilhealth) and Facebook (facebook.com/PhilHealth). (END) (Jan Joseph C. Rico)
(Reference: Dr. Israel Francis A. Pargas, Head Executive Assistant and Concurrent OIC-Vice President for Corporate Affairs Group, Cel No. 0917-8089399)